Exim Bank of India Grants $60M Credit to Ghana for Rural Electrification and Presidential Office Projects.

The Export-Import Bank of India has established a Line of Credit (LOC) of USD 60 million with the Government of Ghana, effective February 27, 2006. This credit supports the export of Indian equipment, goods, and services for Ghana's rural electrification project and the construction of a Presidential Office, each allocated USD 30 million. The LOC has a utilization period of 48 months for project exports and 60 months for other contracts, ending August 23, 2010. No agency commission is payable, but exporters may use personal resources for commission payments. The circular is issued under the Foreign Exchange Management Act, 1999.

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